- Fisker Inc. sold out of its 2023 US allotment of the Fisker
Ocean Sport and Fisker Ocean Ultra trim levels.
- Last month, the company also sold out its 5,000 Fisker Ocean
One launch edition globally, with buyers in nine launch markets
committing to buying the limited version.
- Earlier this month, Fisker proactively reached out to US
reservation holders regarding retaining eligibility for the $7,500
federal tax credit should the Inflation Reduction Act of 2022
become law.
- Fisker is exploring US manufacturing sites, as well as
considering increasing Fisker Ocean production in late 2023
- At the carbon-neutral factory in Austria, where the Fisker
Ocean starts production on November 17, 2022, Fisker is preparing
for large-scale manufacturing.
Fisker Inc. (NYSE: FSR) ("Fisker") – passionate creator of the
world's most sustainable electric vehicles and advanced mobility
solutions – sold out two trim levels destined for the United States
for its Fisker Ocean SUV: the $37,4991 Fisker Ocean Sport and the
$49,9991 Fisker Ocean Ultra. Last month, Fisker sold out of the
$68,9991 Fisker Ocean One limited edition globally, securing
$5,0002 deposits from 5,000 reservation holders in just 30
days.
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Fisker Inc. sold out of its 2023 U.S.
allotment of the Fisker Ocean Sport and Fisker Ocean Ultra trim
levels. Last month, the company also sold out its 5,000 Fisker
Ocean One launch edition globally, with buyers in nine launch
markets committing to buying the limited version. Earlier this
month, Fisker proactively reached out to U.S. reservation holders
regarding retaining eligibility for the $7,500 federal tax credit
should the Inflation Reduction Act of 2022 become law. Fisker is
exploring U.S. manufacturing sites, as well as considering
increasing Fisker Ocean production in late 2023. At the
carbon-neutral factory in Austria, where the Fisker Ocean starts
production on November 17, 2022, Fisker is preparing for
large-scale manufacturing. Photo credit: Michael Mueller
Starting on November 18, 2022, the day after start of
production, Fisker will begin taking orders for the Fisker Ocean
Extreme in select global launch markets, followed by opening orders
for the Ultra and Sport trims in Q1 2023 for other launch markets
outside the US.
Fisker Ocean reservations remain open for all markets.
In preparation for the passage of the Inflation Reduction Act of
2022 (IRA), Fisker began reaching out to US reservation holders on
August 7. Fisker offered reservation holders the opportunity to
proactively enter into a binding contract to purchase a Fisker
Ocean by converting their $250 initial deposit and $100 second
deposit to a non-refundable order. Fisker believes this binding
contract enables the customer to retain eligibility for a $7,500
federal tax credit for EVs that becomes unavailable if the IRA is
signed into law.
This ordering system remains in effect only until the IRA is
passed and signed into law or is otherwise finally decided. At that
time, this order process will close. As mentioned above, Fisker
plans to reopen the order process for the Fisker Ocean Extreme trim
on November 18, 2022.
"We moved quickly to preserve the opportunity of our qualifying
US reservation holders to remain eligible for the current federal
tax credit," Fisker chairman and CEO Henrik Fisker said. "We're
very happy that, in addition to global Fisker Ocean One customers
securing their vehicles, those reservation holders in the US who
wanted a Fisker Ocean could lock in their purchase commitment. Our
customers are giving us a huge vote of confidence ahead of our
start of production on November 17. As for 2024, we are already
exploring US-based manufacturing with the goal of making some
models eligible for the EV tax credit within the new proposed
requirements."
Fisker is in discussions with its production partner Magna,
examining the possibility of increasing production of the Fisker
Ocean in the second half of 2023, potentially releasing more Fisker
Ocean Ultra and Sport trims for the US market toward the end of
2023.
In the meantime, Henrik visited Magna Steyr's carbon-neutral
factory in Austria this week, where preparations are well underway
to begin manufacturing the Fisker Ocean in November. He reviewed
developments at the main assembly line, where a ramp-up to
higher-volume production will commence in 2023. A highlight was a
fully automated, robotic battery-vehicle marriage station, where 26
bolts are fastened in less than two minutes, securing the battery
pack into place in the undercarriage.
Henrik also reviewed a group of pre-production prototype
vehicles for technicians to conduct additional testing.
With fewer than 99 days to go before the start of production,
Magna and Fisker established a "Mission Control" center where teams
meet daily to ensure the highest quality manufacturing. Additional
teams are working on logistics for parts coming into the plant,
vehicle handovers, port operations, and outbound logistics to
manage customer deliveries in nine launch markets.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive
industry by developing the most emotionally desirable and
eco-friendly electric vehicles on Earth. Passionately driven by the
vision of a clean future for all, the company is on a mission to
become the No. 1 e-mobility service provider with the world's most
sustainable vehicles. To learn more, visit www.FiskerInc.com – and
enjoy exclusive content across Fisker's social media channels:
Facebook, Instagram, Twitter, YouTube, and LinkedIn.
Forward-Looking
Statements
This press release includes forward-looking statements, which
are subject to the "safe harbor" provisions of the US Private
Securities Litigation Reform Act of 1995. These statements may be
identified by words such as "feel," "believes," expects,"
"estimates," "projects," "intends," "should," "is to be," or the
negative of such terms, or other comparable terminology and
include, among other things, the potential of the Inflation
Reduction Act to be signed into law; the potential for any tax
credits to be available in the future, the quotation of our CEO,
the timing for the firm order process in global launch markets, the
statements regarding the planned launch timing, pricing, trims to
be produced and potential increased production in 2023, potential
US-based manufacturing, and estimated range of the Fisker Ocean,
the Company's future performance, and other future events that
involve risks and uncertainties. Such forward-looking statements
are not guarantees of future performance and are subject to risks
and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein due
to many factors, including, but not limited to: Fisker's limited
operating history; Fisker's ability to enter into additional
manufacturing and other contracts with Magna or tier-one suppliers
in order to execute on its business plan; the risk that OEM and
supply partners do not meet agreed-upon timelines or experience
capacity constraints; Fisker may experience significant delays in
the design, manufacture, regulatory approval, launch and financing
of its vehicles; Fisker's ability to execute its business model,
including market acceptance of its planned products and services;
Fisker's inability to retain key personnel and to hire additional
personnel; competition in the electric vehicle market; Fisker's
inability to develop a sales distribution network; and the ability
to protect its intellectual property rights; and those factors
discussed in Fisker's Annual Report on Form 10-K, under the heading
"Risk Factors", filed with the Securities and Exchange Commission
(the "SEC"), as supplemented by Quarterly Reports on Form 10-Q, and
other reports and documents Fisker files from time to time with the
SEC. Any forward-looking statements speak only as of the date on
which they are made, and Fisker undertakes no obligation to update
any forward-looking statement to reflect events or circumstances
after the date of this press release.
1 Pricing shown is for the continental US and excludes delivery,
finance, and government charges. Maintenance is not included.
Pricing depends upon specifications and options chosen by customer
as they configure actual vehicle closer to production. Pricing does
not include various state and federal incentives and benefits which
may be available.
2 or local currency equivalent
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220812005109/en/
US Media Fisker@GODRIVEN360.com
European Media: Press.europe@fiskerinc.com
Fisker Inc. Communications: Matthew DeBord Sr Director,
Communications Strategy & Storytelling
mdebord@fiskerinc.com
Rebecca Lindland Director, Communications
rlindland@fiskerinc.com
Investor Relations: Frank Boroch, VP of Investor
Relations fboroch@fiskerinc.com
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